Succession Planning for Small & Medium-Sized Manufacturers

  • January 22, 2020
    8:00 am - 9:30 am

Major Trends and Stats

  • Estimated time/Lifespan of FOB is 24 years
  • 40% of FOBs owners expect to retire within the next decade
  • 10.4 Trillion in Family wealth will be transferred in the next 2 decades
  • 35% of fortune 500 businesses are family owned
  • According to US Small Business Administration 90 % of all businesses in the US are FOB “jointly” owned and equally operated by husband and wife
  • Challenges of the FOB owner is not only do they lead the company but for the most part are also the leader within their family
  • Resistance to succession planning in FOBs can also stem from both psychological and emotional issues from when they were very young and they developed a strong bond with the company as a result of their upbringing.

Workshop Objectives:

Explore the key elements of an effective succession plan, including:

  • How and when to transition out of your company.
  • How to identify and groom a successor.
  • What to do if no successor exists or no one is ready for the role.

Discuss the various steps that any family-owned or closely-held business owner should undertake to plan for their future, including:

  • Key components of an exit strategy.
  • An effective succession plan.
  • Incorporating the family plan into the business plan.
  • When to consider outside management or other options for non-family management of the business.
  • The importance of estate and financial planning.
  • How to build your bench and increase your company’s value and future stability.

At the end of this session, participants will have a draft plan to discuss with the rest of their family, management team or professional advisors. Participants will leave the workshop with examples, case studies and practical tips for continuing to develop, finalize and implement their plan.

About the Presenter

Matthew Kerzner is a Director in the Center Family Business Excellence Group within the Private Business Services Practice. Matt has more than 25 years of experience in organizational development with a specialization in assisting family businesses and closely held businesses with addressing transition, financial stability and sustainability, and human performance management matters.

Matt works with clients developing a strategic plan that acknowledges the issues and dynamics of both the family and the business in order to develop succession plans that prepare the next generation leaders to succeed.

Prior to joining the firm, Matt was Vice President of a health care management firm and led the human resources for the company.

Matt is an adjunct professor at the University of New Haven, and has presented on a range of topics including, human resources and labor negotiations. In addition, he co-wrote and presented “Meditation as Teaching and Learning Tool Theory, Practice and Testimony”.

Matt is currently a PhD. candidate (working on dissertation) in business psychology through the Chicago School of Professional Psychology.


Venue Phone: (401) 270-8896

315 Iron Horse Way, Providence, Rhode Island, 02908, United States